Walgreens Drug Store
For Sale
Contact for pricing
Pending
1560 Warwick Ave, Warwick, RI 02889
NNN leasehold asset with a ground lease and renewal options for an established drug store occupant.
Property Size10,401 SF
Lot Size1.70 Acres
Days on Market141
Property Features for 1560 Warwick Ave
General Information
Standard status
Pending
Size
10,401 SF
Lot size
1.70 Acres
Property subtype
Retail
Financials
Asking Price
$3,445,000
Cap Rate
7.6%
Additional Details
Traffic Count
65,000 vehicles/day
Building Details
Year Built
2004
Buildings
1
Tenancy
Single
Listing Agency:
Gendron Commercial
Listed By:
John Gendron · License #ME 104572
Source:
Crexi
Added: Apr 11
Changed: Aug 29
Last Checked: Aug 29 at 1:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gendron Commercial
Investment Insights
Based on property information with market context.
This leasehold drug store property includes a 10,401 +/- SF building completed in 2004 on 1.7 AC. Walgreens occupies the property under a NNN lease with zero landlord responsibilities, and the lease provides 8 five-year renewal options beginning March of 2025. The asset also includes a ground lease with 46+ years remaining and a 45-day First Right of Refusal on the building.
The property is located at 1560 Warwick Ave in Warwick, RI, at a 6-lane intersection with reported traffic of 65,000 cars a day. More than 70 parking spaces serve the site. Lease economics include percentage rent provisions of 2% on gross sales excluding food and prescriptions, plus an additional .5% on gross sales of food and prescriptions. The stated cap rate is 7.6%.
The property is located at 1560 Warwick Ave in Warwick, RI, at a 6-lane intersection with reported traffic of 65,000 cars a day. More than 70 parking spaces serve the site. Lease economics include percentage rent provisions of 2% on gross sales excluding food and prescriptions, plus an additional .5% on gross sales of food and prescriptions. The stated cap rate is 7.6%.
Key Highlights
- Walgreens‑occupied 10,401 +/- SF building completed in 2004
- 1.7 AC leasehold property with a ground lease having 46+ years remaining
- NNN lease with zero landlord responsibilities
Property Analytics
Property Profile
Current Use
Lease Details
65,000 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
65k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 39%
Beauty & Spa 4%
Electronics 2%
Speedway
Shops & Services
11,605 visits/mo
0.2 miles
Citizens Bank
Shops & Services
11,181 visits/mo
0.0 miles
Starbucks
Dining
9,920 visits/mo
0.1 miles
Bank of America
Shops & Services
6,891 visits/mo
0.1 miles
Five Guys
Dining
6,451 visits/mo
0.2 miles
Demographics for 02889, RI
28,277
Population
11,947
Households
2.4
Avg Household Size
44
Median Age
26%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
3,327
Density / Sq Mi
$85,617
Median Household Income
$50,988
Median Earnings
$1,216
Median Rent
$299,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- COVID-19 Drive-Thru Testing at Walgreens — 1560 Warwick Ave, Warwick, RI 02889
- Noemi Ramos-Desimone — 1560 Warwick Ave, Warwick, RI 028891020
- Walgreens Pharmacy — 1560 Warwick Ave, Warwick, RI 02889
- Jennifer Maybaum — 1560 Warwick Ave, Warwick, RI 028891020
- Jessica Reall — 1201 Warwick Ave, Warwick, RI 028884108
Frequently Asked Questions
What type of property is this?
Drug store - NNN leasehold asset with a ground lease and renewal options for an established drug store occupant.
Where is this drug store located?
The property is located at 1560 Warwick Ave Warwick, RI.
What are key features of this property?
This property features: Walgreens‑occupied 10,401 +/- SF building completed in 2004; 1.7 AC leasehold property with a ground lease having 46+ years remaining; NNN lease with zero landlord responsibilities
